This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1898 Excerpt: ...revenue could be gained from its operation without
very greatly increasing the expense that would be necessary merely
to preserve the property from destruction. But even more than this,
a large element in the value of a railroad consists of the
patronage it has secured both in the way of miscellaneous traffic
and of definite contracts with private shippers and with the
post-office department and express companies. All this is likely to
be forfeited and the value of the property depreciated if
operations are suspended. In many instances, also, the retention of
the franchise depends on the continuous operation of the road. For
these and perhaps other reasons the courts have commonly authorized
receivers of railroads either to operate the roads themselves or,
less frequently, to provide for their operation by leasing them to
an operating company.1 If the railroad has been an independent one,
the receiver is commonly authorized to operate it; if it has been
previously leased by another company, the receiver is likely to be
authorized to arrange with the 1 For instance, of 192 roads in the
hands of receivers, June 30, 1894, 137 were operated independently
by the receivers, five were leased by the receivers to operating
companies, five were not in operation at all, and the remainder
were operated by the receivers of systems of which they formed a
part. Of 169 roads in the hands of receivers, June 30, 1895, 136
were operated by independent receivers, eight were leased by the
receivers to operating companies, four were not in operation, and
twenty-one were parts of systems in receiverships. Of 151 roads in
the hands of receivers, June 30, 1896, 128 were operated by their
receivers, three were leased to operating companies, fourteen were
operated by the receivers of...
|Country of origin:
Henry Huntington Swain
||246 x 189 x 2mm (L x W x T)
||Paperback - Trade
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